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SVTPerformance's Chain of Restaurants
Road Side Pub
I just can’t convince myself to buy a house.
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<blockquote data-quote="blownstang4.6" data-source="post: 16198998" data-attributes="member: 129006"><p>A big LIKE....hahahaha nicely put! I know quite a few people who kept buying multiple rental properties throughout their lives and put in the hard work to maintain them. Theyre sitting pretty as millionaires in retirement right now. Tenants paid their houses off, they used left over rent to pay down the mortgage quicker or invest in additional properties, then sold the houses for much more than purchased.</p><p></p><p>One thing a friend told me, who had 5 six unit apartment buildings, was to never buy a single family home as your first property. You buy a multi-unit rental property and live in one of the units until you can buy another property. If the property is large enough you live completely rent free. Then when you buy another property you have money to cover a portion of that property every month and so on.</p><p></p><p>My mortgage, insurance, and taxes monthly payment on both properties is $4200. It costs me $1000 out of my own pocket. Essentially I'm adding $38k to my yearly salary.</p></blockquote><p></p>
[QUOTE="blownstang4.6, post: 16198998, member: 129006"] A big LIKE....hahahaha nicely put! I know quite a few people who kept buying multiple rental properties throughout their lives and put in the hard work to maintain them. Theyre sitting pretty as millionaires in retirement right now. Tenants paid their houses off, they used left over rent to pay down the mortgage quicker or invest in additional properties, then sold the houses for much more than purchased. One thing a friend told me, who had 5 six unit apartment buildings, was to never buy a single family home as your first property. You buy a multi-unit rental property and live in one of the units until you can buy another property. If the property is large enough you live completely rent free. Then when you buy another property you have money to cover a portion of that property every month and so on. My mortgage, insurance, and taxes monthly payment on both properties is $4200. It costs me $1000 out of my own pocket. Essentially I'm adding $38k to my yearly salary. [/QUOTE]
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SVTPerformance's Chain of Restaurants
Road Side Pub
I just can’t convince myself to buy a house.
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